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16 Sep 2013
EUR/AUD attempting pullback with 1.4340 aim
FXstreet.com (Chicago) - EUR/AUD stalls around session bottoms after opening weaker against the Aussie. An inconclusive reversal consolidation may be on its way with higher lows as the journey advances.
Heavy selling
Price action reveals heavy selling at the opening of the session potentially due to the public announcement of Larry Summers withdrawal from the Chairman of the Reserve Bank candidacy. Ahead of consumer price indexes in Europe, the pair stalls around bottoms having hit session lows twice within minutes at 1.4307. The Australia ASX All ordinaries index is up 0.63% so far.
EUR/AUD Technical Levels
Offered at 1.4313, supports are aligned at 1.4292 (July 25th lows), 1.4232 (September 11th lows), 1.4160 (July 17th lows) and resistances at 1.4344 (September 4th lows), 1.4417 (June 20th highs), 1.4469 (September 5th highs). On one-hour timeframe analysis the pair is strongly bearish and sells below the EMA20.
Heavy selling
Price action reveals heavy selling at the opening of the session potentially due to the public announcement of Larry Summers withdrawal from the Chairman of the Reserve Bank candidacy. Ahead of consumer price indexes in Europe, the pair stalls around bottoms having hit session lows twice within minutes at 1.4307. The Australia ASX All ordinaries index is up 0.63% so far.
EUR/AUD Technical Levels
Offered at 1.4313, supports are aligned at 1.4292 (July 25th lows), 1.4232 (September 11th lows), 1.4160 (July 17th lows) and resistances at 1.4344 (September 4th lows), 1.4417 (June 20th highs), 1.4469 (September 5th highs). On one-hour timeframe analysis the pair is strongly bearish and sells below the EMA20.